Ethereum
Shiba Inu will hit $0.000128 if Ethereum hits $20,000
Shiba Inu could set a new all-time high with a commensurate increase in value if Ethereum hits $20,000.
In recent days, Shiba Inu has struggled to gain momentum. It reached a low of $0.00002343 in the last 24 hours, erasing all gains made in the previous week. Currently, SHIB is trading with an 8% decline in its overall performance over the past seven days.
Regardless of Shiba Inu’s current underperformance, enthusiasts are still confident in SHIB’s prospects in this bull market. Additionally, Shiba Inu proved its bullish capability two months ago by rising 373% in less than ten days.
This analysis weighs on Potential Shiba Inu Market Value in a scenario where the altcoin market leader, Ethereum (ETH), reaches unprecedented prices like the $20,000 threshold.
Shiba Price with Ethereum at $20,000
At press time, Ethereum is selling at $3,795, reflecting 30-day gains of more than 21%. For ETH to reach the $20,000 threshold, the altcoin leader needs to rise by 427%. This price level notably places the Ethereum market above $2.4 trillion.
If Shiba Inu mirrors Ethereum’s growth and achieves a 427% increase from its current price of $0.00002433, its value could reach $0.0001282. This price level would be a record for Shiba Inusurpassing its all-time high of $0.00008845.
Remarkably, OpenAI’s ChatGPT attested that the potential value of Shiba Inu’s supposed Ethereum has reached $20,000.
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Meanwhile, at the hypothetical price of $0.0001282, Shiba Inu’s market cap would be $75.56 billion, still six times lower than Ethereum’s current market cap of $457 billion.
According to IntoTheBlock statistics, Shiba Inu has a 69% correlation with the price of ETH. This shows that there is a 69% chance that SHIB will follow ETH if it hits $20,000.
Can Ethereum and Shiba Inu Skyrocket 427%?
Ethereum set an ATH at $4,891 three years ago and is currently trading 22.34% below that high. Ethereum almost revisited this high in March when it crossed the $4,000 mark, but later pulled back from that price level.
While a 427% increase would take ETH to $20,000, market analysts generally expect a more modest spike for the crypto in the current bull market.
For example, Geoff Kendrick, who leads digital assets research at Standard Chartered, suggests Ethereum could reach $8,000 this year and potentially $14,000 by 2025. This more modest outlook comes despite Kendrick’s consideration of the likely influence of ETFs investing in ETH.
Meanwhile, the prospect of Shiba Inu reaching a price of $0.0001282 It’s a sentiment shared by various analysts.
Historically, lower-tier altcoins, particularly meme tokens such as SHIB, tend to outperform established market leaders. Therefore, in a hypothetical situation where Ethereum sees a 427% increase to reach the $20,000 mark, it is conceivable that Shiba Inu could see an even more significant price rise.
Essentially, while a 427% increase may seem ambitious for Ethereum, it is considered a more achievable goal for Shiba Inu. This is further confirmed by the impressive 373% SHIB rally conceived between February 27 and March 5.
Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
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